Sustainability concerns environmental, social and governmental conditions (ESG), and in Recreate we have defined clear objectives within each of the three dimensions. Sustainability is a fully integrated part of the company's strategy, and governs daily strategic and operational decisions at all levels – from project development to operational services.
We are part of an industry that is responsible for almost 40% of global greenhouse gas emissions and consumption. Hence, we must ensure that emissions are reduced in the way we develop and operate real estate, and in that way contribute to creating a sustainable future for the next generations. In April, we published a sustainability report for 2021, and although this was our first report, we have been working on sustainability for several years.
Already in 2015, we launched Powerhouse Telemark, and in August 2020 the building was ready. The same year, Powerhouse Telemark was named one of ten "most anticipated buildings set to shape the world in 2020" by CNN - in strong competition with spectacular buildings in i.a. Canada, China, Egypt and Dubai. The building produces more energy than it consumes during a lifetime cycle of 60 years. It has been a pioneering innovation project in how to develop new technological and sustainable solutions.
Working with Powerhouse Telemark raised new competence and expertise – both for ourselves and for everyone who has been involved in the implementation of the project. This was a contributing and motivating factor regarding our ambition to develop the world's first Paris Proof quarter in Tønsberg; Slottsfjell Park.
50% of the world's office space is available at all times. We want to solve this problem by ensuring better utilization of existing buildings. This was the starting point for enhancing Evolve, and developing Orbit – a digital subscription solution that enables booking of vacancies and meeting rooms.
Sustainability in everything we do
To obtain the climate goals, we have to reduce our own climate footprint. We must focus on increasing the utilization of existing areas, and reduce the need for new buildings. Also, we have to do more rehabilitation, rather than build new properties. This is the premises for Slottsfjell Park, but also for Inkognito Park, which to date is our most demanding rehabilitation project. This classic and listed building is being transformed into a high-tech building with flexible office solutions, and will open in the autumn of 2022.
We want to contribute to sustainable development by raising our competence so that we are continuously able to drive innovation, solve complex tasks, and contribute to smart climate solutions for society.